Efficient anesthesia medical billing ensures your facility remains financially independent while supporting the high cost of providing patient care. But ensuring you get paid on time for all your services isn’t always straightforward.
How can you avoid losses and guarantee timely and complete reimbursement for your services? Below are five anesthesia medical billing tips to help you efficiently manage your billing process and maximize revenue:
1. Understand What Anesthesia Billing Codes to Use
Billing codes provide essential information about an anesthesia service. ICD-10 codes establish medical necessity by indicating why a service was performed, helping to determine if the service adheres to the patient’s coverage policy.
ICD-10 and CPT codes regularly change, and medical billers need to stay up to date to avoid inaccuracies and rejected claims.
2. Use an Electronic Health Record (EHR) System
Anesthesia medical billing software, such as using an EHR, increases efficiencies by streamlining workflows and tasks.
Automation of clinical documentation can result in the following:
- Accurate coding
- Increased accessibility and interoperability
- Reduced medical errors
- Improved patient care (through better management and patient education)
The organization, efficiency, and patient satisfaction you achieve will increase revenue.
3. Use the Correct Anesthesia Billing Modifiers
In addition to CPT codes, claims should be submitted with accurate modifiers. Modifiers are two-character indicators that provide additional information related to a service’s procedure code.
When billers use the wrong modifiers, claims are often denied or rejected. Using the correct modifiers ensures consistency and accuracy in filing claims and timely reimbursements.
The Healthcare Common Procedure Coding System (HCPCS) indicates all modifiers specific to anesthesia services which are standard on claims submitted to Medicare and many other payers.
4. Keep Staff Up-To-Date on Correct Billing Procedures
Your staff must know the ins and outs of medical billing for anesthesia. The first step towards improving efficiency is understanding how the billing procedure works fully. A medical billing system involves the following main steps:
- Checking insurance eligibility
- Collecting payment from the patient
- Checking and using the correct codes
- Submitting of medical claims
- Completing payment collection
- Resolving issues surrounding denied claims
- Keeping track of denial statistics
By establishing a clear billing system and remaining current on changes and trends, you can ensure a smoother workflow and faster collection process.
5. Outsource Your Anesthesia Medical Billing
Anesthesia medical billing is no simple matter. The process involves meticulous documentation and a strong understanding of billing codes and regulations to ensure accuracy and compliance.
With all the complexities surrounding anesthesia billing, consider outsourcing your anesthesia medical billing to a company with specialized tools and services to help mitigate compliance risks while maximizing your revenue. When the experts are handling your anesthesia medical billing, you can reduce administrative burden, minimize errors, and avoid denied claims.
At Coronis Health, we bring together the country’s top medical billers and pool our global resources to bring customers tailored solutions for optimized revenue cycle management and anesthesia medical billing services. With decades of experience in the industry, the most advanced technology, and robust intelligence, we can help maximize your revenue while you get back to treating your patients. To learn more, contact Coronis Health to request your free financial check-up.